Plummeting Stocks Provide a Long Overdue Breath of Fresh Air

EST

Tuesday’s nearly 400-point decline in the Dow Industrials was a long overdue breath of fresh air. We shouldn’t assume it is the death knell for the nine-year-old bull market, however, since money managers with their economic lives at stake need only buy a handful of stocks in concert to turn things around. Even so, we’ll be paying particular attention to the shares of home builders (see TOL tout below), since they are less prone to be driven by bulls**t and hubris than such Wall Street faves as TSLA, NFLX, GOOG, MSFT, FB and AAPL.  Meanwhile, the Dow Industrials have fallen 589 points, or 2.2%, since peaking on Friday at record levels. They would need to fall a further 432 points, touching 25,256, to announce that something might be seriously wrong.

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John Jay January 31, 2018, 10:58 am

That’s right!
Remember…you are “Long and Strong Emotional Support Peacocks”
Don’t miss this opportunity like you missed Bitcoin!
With a little side bet on “Emotional Support Penguins”, because you just never know about these crazy markets!

John Jay January 31, 2018, 6:29 am

Yes, a nice little pullback.
Expect sales of “Emotional Support Peacocks” to skyrocket!
Get in early, and back up the truck!
Of course, the mean old airlines are trying to throw a wet blanket on that trend.

“In announcing its new policy, Delta noted that some passengers’ emotional support animals were creatures like turkeys, gliding possums, snakes and spiders. Delta issued its crackdown after a passenger’s 70-pound support dog bit another customer in the face.”

Oh, and peacocks, don’t forget the peacocks!
Somewhere, H L Mencken is smiling!



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